Net interoffice accounts of global banks: the role of domestic funding
AbstractUsing US banks' balance sheet data, this paper examines the responsiveness of net interoffice accounts, that is, the net liabilities of parent offices due to their foreign-related offices, to variations in different types of domestic funding. Furthermore, it investigates whether the relationship between net interoffice accounts and domestic policy-steered rates depends on cross-sectional differences in the funding structure of global banks. Estimation results suggest that domestic interbank and repo borrowings are important drivers of net interoffice accounts, the latter being significant during the crisis period. A negative relationship between policy rates and net interoffice accounts is observed only for those global banks with a relatively higher share of repo borrowings.
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Bibliographic InfoPaper provided by Banque de France in its series Working papers with number 448.
Length: 24 pages
Date of creation: 2013
Date of revision:
US global banks; net interoffice accounts; funding.;
Find related papers by JEL classification:
- G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
- F34 - International Economics - - International Finance - - - International Lending and Debt Problems
- E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
This paper has been announced in the following NEP Reports:
- NEP-ACC-2013-10-11 (Accounting & Auditing)
- NEP-ALL-2013-10-11 (All new papers)
- NEP-BAN-2013-10-11 (Banking)
- NEP-MAC-2013-10-11 (Macroeconomics)
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